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With the North Sea not the same field that it once was, companies like ExxonMobil, Noble Energy and Statoil are turning to some other offshore areas for new oil and natural gas production.

This segment is from Tuesday's edition of 'Digging for Value', in which sector analysts Joel South and Taylor Muckerman discuss energy & materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays & Thursdays. It can also be found on Twitter, along with our extended coverage of the energy & materials sectors @TMFEnergy.

For a quite a long time now, the North Sea has been synonymous with European offshore oil production. Unfortunately, the field isn't quite what it once was. For investors looking to buy into the next big field in Europe, we recommend starting your research with companies like ExxonMobil(NYSE:XOM), Noble Energy(NYSE:NBL) and Statoil(NYSE:EQNR). ExxonMobil provides exposure to multiple fields, while Noble Energy might offer the most upside with its involvement in the Mediterranean's Leviathan Field. For more analysis on this subject, tune into the video below.

Author

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Taylor is an Associate GM in our Fool International operations. Prior to that he covered all things Energy + Materials as an analyst. Over the years, he has built an investing skill set to rely on when evaluating companies inside and out. While at the Fool, he has made appearances on CNBC and Fox Business. In addition, he completed his MBA at the University of Maryland and will sit for the Level II CFA Exam.